1550 Maryland Ave Phoenix, AZ 85014-1499

Property Details for 1550 Maryland Ave

Year built

1981

Construction

CONCRETE

Lot size

0.35 lot acres

Property size

4,175 SF

Zone code

C-1

Property type

Medical offices

Property subtype

Medical centers

APN

161-08-066C

APU

16108066C

Description

This single-story, 4,210-square-foot office building in Phoenix, Arizona, presents a unique owner-user opportunity with existing income. Located at 1550 E. Maryland Ave, near the prominent intersection of 16th Street and Maryland, this property offers exceptional visibility thanks to its monument signage. The building, constructed in 1981, sits on a 0.35-acre lot and is zoned C-1. Currently, approximately 2,500 square feet is available for an owner-occupier, while a stable, long-term dental tenant occupies the remaining space, generating approximately $51,000 in annual net rental income. The tenant is under a triple-net (NNN) lease with a 10-year term commencing August 1, 2020, and expiring July 31, 2030, leaving 5.7 years remaining. Rent increases are built in at 3% annually. The building's occupancy is currently at 40%, with full occupancy projected for October 1, 2024. This investment opportunity allows for immediate income generation while providing space for a business to grow. The asking price is $1,625,000. The property's Maricopa County APN is 161-08-066C. This is a rare opportunity to acquire a well-located office building with strong visibility and a stable income stream.